Month: November 2021

A rendering of the planned office campus at 88 Bluxome Street (TMG Partners, iStock) A vocal group of Bay Area locals are outraged by a Pasadena developer’s decision to drop tennis from a planned 775,000-square-foot office campus on the site of the San Francisco Tennis Club. Alexandria Real Estate Equities won the city’s permission to…

Burbank mayor Bob Frutos, Burbank Aero Crossing and LaTerra Development’s Charles Tourtellotte (Getty, LaTerra Development) The Burbank City Council has signed off on a proposal by LaTerra Development to redevelop a one-time big-box retail site into a mix of residential and office space. The developer’s Burbank Aero Crossing would rise at the former home of…

Inset: Jay Philip Parker, Alicia Cervera Lamadrid, Edgardo Defortuna Art Basel Miami Beach, the art fair of art fairs that has grown into a weeklong affair with ancillary shows and events, is back for the first time since 2019. And the real estate industry expects to take advantage of the influx of high net worth…

The property and David Bolno (Google Maps, NKSFB) UPDATED, Nov. 30, 3:45 p.m. PT: A Hollywood business manager whose clients include some of the biggest names in music is a trustee of a Westside estate recently listed for $24 million. The property, located on the 700 block of North Bonhill Road in Brentwood, is currently…

From left: Marty Burger, CEO, Silverstein Properties, and Moshe Larry, CEO, Mizrahi-Tefahot Bank in front of U.S. Bank Tower in Downtown Los Angeles (Getty Images, iStock) Silverstein Properties has added a new tenant to its U.S. Bank Tower in Downtown Los Angeles, as it pushes on with its planned $60 million renovation of the property.…

Photo Illustration of Elon Musk (Getty) Elon Musk’s claim of residency in Texas could save a $2 billion capital gains tab if he follows through with a pledge to sell a 10 percent stake in the company he co-founded and built into an automotive juggernaut in California. The $2 billion bill was calculated by Bloomberg…

The year-over-year rise in home prices was just below the 19.8 percent annual rise in August. (iStock) U.S. home prices remain significantly higher than a year ago, but the growth is easing and perhaps even ending, according to new figures. U.S. home prices increased 19.5 percent year-over-year in September, according to the S&P CoreLogic Case-Shiller…

11630 Moraga Lane (Zillow) A Bel-Air mansion that has been on and off the market since 2017 is back on the block at a deeper discount. The 19,127-square-foot property, at 11630 Moraga Lane has a current asking price of $25.3 million–a $1.6 million reduction. The price chop on the eight-bed, 13-bath home came after a…

Secratary of the Treasury Janet Yellen (Getty, iStock) States struggling to keep rent relief efforts alive could soon benefit from a Treasury Department plan to reallocate funds. Rental-assistance money would be shifted from municipalities with unused funds to those who desperately need it, the Wall Street Journal reported. Officials didn’t specify to the Journal which…

Traffic was up 47.5 percent from last year, when coronavirus restrictions and concerns were more rampant. (iStock, Getty) Even after the peak of the pandemic, Black Friday no longer appears to be the saving grace of retailers around the country. Retail traffic in the United States dropped 28.3 percent from 2019’s holiday, according to preliminary…